Syntopix increases revenues and losses

The Bradford-based company said its sales revenue from commercial agreements increased to £161,000 in the six months to the end of January compared to £104,000 the previous year.

However, its operating loss also increased to £559,000 from £517,000 the previous year, although the loss per share reduced to 4.7p from 5.9p.

The company’s cash balance stood at £1.06m.

The Leeds University spinout entered into agreements with Sinclair Pharma, a leading skin and mouth disease specialist with sales and marketing operations across Europe, and Beiersdorf AG.

Chief executive Dr Stephen Jones, said: “I am pleased to report higher revenues in the first half of this year than the last full year as our antimicrobial compound library grows and our screening programmes broaden our data.

“Our compounds continue to be of wide interest to the pharmaceutical and healthcare industry and we have signed a number of exclusivity deals across the acne, oral hygiene and deodorant markets. We are also pleased to be involved in joint development projects with several of our partners, demonstrating that our partners see the value of the expertise within the group.

“The board is currently exploring ways in which Syntopix can expand its business offering and strengthen its revenue streams, and we believe that 2011 could be a transformational year for the Group. I look forward to updating shareholders in due course.”